Small Arms and Light Weapons (SALW) Market to be Worth US$22.12 bn by 2023


Posted August 23, 2016 by akash12345

Global SALW Market is driven by measures taken to address issue of drug trafficking, U.S. and Israel are key regions for SALW market, SALW market is fueled by military and law enforcement agencies
 
According to a new market report published by Transparency Market Research “Small Arms and Light Weapons (SALW) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023” the small arms and light weapons market was valued at US$15.75 bn in 2014 and is estimated to exhibit a CAGR of 3.8% and reach US$22.12 bn by 2023.

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http://www.transparencymarketresearch.com/small-arms-light-weapons-market.html

Modernization of police is one of the primary factors responsible for the growth of the Small Arms and Light Weapons (SALW). There has been an increasing focus on the part of various governments to modernize its police forces as a result of the increasing crime rates. Moreover, various defense modernization programs being implemented across various countries has also impacted the Small Arms and Light Weapons (SALW) positively. Increase in urban warfare is another factor which is expected to propel the demand for Small Arms and Light Weapons (SALW) during the forecast period. Small arms and light weapons are best suited to counter attacks in situations where carpet bombing cannot be used and encounters occur at close quarter. Furthermore, measures taken by various countries to address the issue of drug trafficking is another factor which has resulted in an increased demand for Small Arms and Light Weapons (SALW). These factors in overall are expected to positively impact the growth of Small Arms and Light Weapons (SALW) market during the forecast period from 2015 to 2023.

By types, the Small Arms and Light Weapons (SALW) market has been divided into two segments, namely small arms and light weapons. The small arms segment has been further divided into six types: pistols, rifles, handguns, shotguns, man-portable machine guns and others. The light weapons market has been divided into eight categories: landmines, mortars, grenade launchers, rocket launchers, Rocket Propelled Grenades (RPGs), anti tank weapons, anti aircraft weapons and others.

By applications, market is categorized into military, law enforcement and others. The military segment held the largest market share and accounted for more than 50% in 2014. Defense Modernization Programs is one of the primary factors driving the demand for Small Arms and Light Weapons (SALW) used in the military sector.

By Geography, the global Small Arms and Light Weapons (SALW) market has been segmented into four regions; North America, Europe, Asia Pacific and Rest of the World (RoW). Rest of the World (RoW) has been further divided into Middle East and Africa and South America. In 2014, Europe was the largest market for Small Arms and Light Weapons (SALW) and accounted for more than 30%. The Europe market was closely followed by the North America market and it held the second position in 2014.


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Some of the major players in the market are Hecker & Koch GmBH, General Dynamics Corporation, FN Herstal, S.A., Sturm, Ruger & Company, Inc., SIG SAUER GmbH & Co., Colt's Manufacturing Company LLC, Carl Walther GmbH, Lockheed Martin Corporation, Glock Ges. m.b.H., Browning Arms Company and Beretta S.p.A. among others.

About TMR

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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Issued By Transparency Market Research
Country United States
Categories Aerospace , Business , Defense
Last Updated August 23, 2016